Latest ABS news
GlobalCapital is taking nominations for its annual US ABS awards.
A study by DBRS published this week shows that residential Property Assessed Clean Energy (PACE) delinquency rates have been consistently lower than delinquency rates on residential property taxes, dispelling some of the uncertainty that has cropped up around borrower repayments in the budding sector.
A new study of green bond pricing has stopped short of saying that green bond issuers can generally expect to get tighter new issue premiums. But the report’s lead author did say: “Green bond buyers can’t expect to receive a new issue premium — that is itself quite a bold statement.”
New securitization rules could put EU-domiciled banks at a competitive disadvantage arranging US CLOs, if EU risk retention rules are applied in their planned form. Market participants raised the issue at a public hearing on Monday, but regulators refused to be drawn on whether they would try to cure the problem in the final version of the rules.
Lending Club executives said on a Tuesday earnings call that the company may look to sell the residual notes retained from a December 2017 securitization, and indicated the company’s intent to grow its Club whole loan certificate program.
Interest rate risk has become the driving concern among ABS investors, with data showing on Wednesday that investors are increasingly shifting into floating rate CLO, agency CMBS and agency credit risk transfer bonds, with further rate hikes on the horizon.
Barclays Bank has joined a multi-dealer special purpose vehicle that issues secured notes, it was revealed on Wednesday.
Two veterans of the European securitization market have launched an independent structured finance research firm, Integer Advisors. It issued its first mailout on Tuesday, covering the European Banking Authority's public hearings on securitization held on Monday.
Wireless carrier Sprint sold a larger than expected $1.5bn eight year high yield bond on Tuesday. The company also clarified that its outstanding spectrum-backed ABS bonds do not conflict with covenants on its existing high yield bonds, before an anticipated new slug of paper from the securitization shelf.
Marketplace lending data company PeerIQ and Cross River Bank announced a partnership on Tuesday to launch a loan buying service for banks and institutional investors looking to access the online lending sector.
Go to GlobalCapital's Securitization data pages for our dealflow database, plus details of priced European and US CLOs and structured finance bookrunner league tables.
Latest securitization people & markets news
- Evidence builds of tighter green bond pricing
- European banks could be hamstrung by extra-territorial CLO rules
- European securitization veterans launch research boutique
- CLO credit quality could weaken without risk retention, says Morgan Stanley
- MUFG promotes credit sales head
Promoted By CGIF
Want full access to GlobalCapital?
If you are new to GlobalCapital or you already subscribe to some of our channels you can still easily extend your access.
Take a trial to the entire site or subscribe online to see all our capital markets news, opinion and data sets.
Don't miss out!Free trial
Read the magazine on your mobile device
Most Viewed: Securitization
Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|1||Bank of America Merrill Lynch (BAML)||7,026||25||11.95|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|2||Bank of America Merrill Lynch||10,472.90||27||9.79%|
|3||Wells Fargo Securities||9,632.91||31||9.00%|